By Admin 
Notice to Tata Steel: The world’s well -known company Tata Steel has been sent a GST notice of more than 1000 crores by the tax department, after which this company has come into controversies at this time. In the stock exchange filing on behalf of Tata Steel, it was told on Sunday that he was given this notice on 27 June by the Commissioner (Audit) office of Central Tax in Ranchi.
The cause of the notice issued by Ranchi-based Central Tax Commissioner (Audit) has been told that Tata Steel has incorrectly credit tax of more than Rs 1007 crore from financial year 2018-19 to 2022-23. This is a violation of the State Goods and Service Tax Act 2017 and the Central Goods and Service Tax Act 2017 and Section 20 of Integrateid Goods and Service Tax 2017.
Notice to Tata Steel
Tax officials say that the notice has been sought from Tata Steel within 30 days about this notice and it has been asked why they should not be charged Rs 1007 crore as GST. However, it has been clarified by the company that it will not have any effect on operational work or financial positions and will be responded to on the appropriate platform.
After this notice from the tax department, the first business day of the week i.e. on Monday, Tata’s shares can be seen. However, Tata Steel says that Rs 514.19 crore has already been deposited as GST and it is a part of normal business transactions.
What is the whole controversy
Significantly, whenever a company buys a goods, it pays tax on Ur at that time and after that it also pays tax while selling the goods. In such a situation, he has the right to reduce the tax already paid. This system saves double taxation i.e. double taxation. Tax officials believe that wrong credi has been taken by Tata Steel, which has been violated in a way.